GOP leaders refuse Dems' coronavirus demands, won't negotiate over small business lending program

[Zorro]

Source: Washington Post

The top GOP leaders in Congress said Saturday they would not negotiate with Democrats and instead insisted that lawmakers approve more money for a small business lending program for firms impacted by the coronavirus pandemic.

Senate Majority Leader Mitch McConnell (R-Ky.) and House Minority Leader Kevin McCarthy (R-Calif.) released a joint statement Saturday morning saying they would not agree to any compromise with Democrats that changed their proposal to add $250 billion to the Paycheck Protection Program, which is being run by the Small Business Administration.

“Republicans reject Democrats’ reckless threat to continue blocking job-saving funding unless we renegotiate unrelated programs which are not in similar peril,” the joint statement said. “This will not be Congress’s last word on COVID-19, but this crucial program needs funding now. American workers cannot be used as political hostages.”

Their statement appeared to deepen a stalemate over Congress’ next steps to address the nation’s economic misery.

Read more: https://www.washingtonpost.com/us-policy/2020/04/1

[bluestarone]

1. Fuck the all to hell

[KPN]

7. "American workers cannot be used as political hostages" ... as they hold American workers hostage to

line their pockets.

These people need to be lined up and shot.

[Freethinker65]

2. Democrats counter with passing a clean hospital/PPE bill first. Then rapid debate on SBA fund bill

Hospitals, PPE, and healthcare to stop spread should be the priority because without them, those businesses receiving SBA (plus slush funds for donors) funds will have to wait even longer to reopen. Priorities!

From an economic perspective (which is all Trump and the GOP claim they care about) SBA loans will be less if we can get control of COVID-19 sooner and thus open up the economy sooner.

[Bayard]

3. I'm guessing

This is about bailing out rRump's, "small businesses?"

[SharonAnn]

23. Right, like real estate developers, partnerships, etc. Few employees, but not "small"

[bucolic_frolic]

4. SBA grants are can be forgiven says the website

Republicans want their supporters on Main Street to get a chunk. These are different from ordinary loans by the SBA.

eBay sellers can apply if they meet the criteria, which ain't rigorous.

https://covid19relief.sba.gov/#/

COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION

[Jim__]

5. Just say no!

[machoneman]

6. WE CANNOT LET THIS PASS! It's crucially important to stop the Republiscums....

from acting as if our House majority means nothing in terms of any bill's passage. We need to block any and all of their Senate bills until they come around and negotiate. We are in a position of strength and now is the time to come together and show McTurtle he can't steam-roller us anymore.

[Igel]

11. So it's not about the content of the bill?

It's about just proving who's in charge?

The first business of governing is to establish who gets to push everybody else around?

Gah.

https://www.cnn.com/2020/04/09/politics/small-business-loan-program-senate-vote/index.html

[The Magistrate]

22. Actually It Kind Of Is, Sir

You will not see it in a civics text, but a lot does not make it into civics textbooks. Governance is the exercise of power, and that does mean who tells whom what's what.

It is important well-meaning people not allow scoundrels and sharpsters to take advantage of their better natures. Democrats are particularly vulnerable to this, being in the main goodhearted people, who just don't want to see anyone hurt. But when dealing with the sort of shit-heels Republican voters put in office, it has to be made clear you really don't give a fuck if a constituency they value especially, such as small business owners, ends up bankrupt and destitute and dependent on charity. You have to look them square in the eye and say, tough titty, son, so they go to the wall --- you want my majority for them, here's what you gotta do....

[cstanleytech]

8. If we regain the Senate and keep the House and win the White House we should kneecap the Republican

party for this and all their other actions by cutting federal aid and any major spending in deep red states and providing more aid for states that lean purple and then gradually whittle away at the Republicans by repeating that state by state as we gain control of the states.

[WhiteTara]

19. we're people too.

the republicons don't help people in their states.

[Progressive Jones]

20. There is a boat load of vengeance that needs to be doled out by the Dems.

The GOP still has to be punished for how they treated President Obama.

[bluestarone]

9. Like i mentioned before here

We need to keep the original RETHUG version and compare it to the DEMS.version and run ads in NOV.

[Igel]

10. Have you looked at the two versions? n/t

n/t

[bluestarone]

12. With the rethugs attitude

I'm sure when compared we will see the difference!

[bucolic_frolic]

13. Republicans think it will all go away if they can just get their hands on the money

What if it's the herpes of pandemic flu viruses? Like it's just gonna keep circulating.

And by the way? A significant minority portion of people will change their lifestyles forever here. Materialism isn't the *only* thing or the only *thing*. Debt matters. Health matters. Separated from cruises and sports and chain restaurants and discovering there's a stove in the kitchen will alter some behavior. Does anyone miss traffic and 75mph on the bypass? Why do I make $62k and wind up with $4500 at the end of the year? Can I make more at home, gig-up my part time hobby, start a home business, how do I drive revenue for myself instead of for the man? Lots of answers to be found, but those who find them ain't never going back to work. Worst of all for business, these are the intelligent people. A brain drain from corporate America and Main Street is underway. Republicans will find themselves with zombie corporations and under-performing assets. It's payback time in America!

[BlueIdaho]

14. We'll see about that.

Republicans are behind the eight ball on this deal. Failing to negotiate sounds a lot like blocking legislation to most hard working Americans. Moscow Mitch’s poll numbers are tanking and he’s taking his pals down with him. Time to break them and send them packing.

[forgotmylogin]

15. McConnell better stop bleating about obstructionism.

WE LEARNED IT FROM YOU, TURTLE!

[turbinetree]

16. Why does this sound like what happened during the senate Impeachment trial .........

FUCK YOU #Moscow Mitch and your libertarian fucking party..........

https://secure.actblue.com/donate/amymcgrathkentucky

[DeminPennswoods]

17. McCarthy is irrelevent here

Pelosi can and will pass what she/Dems want. Trump desperately wants to get the economy moving and will side with Pelosi, however indirectly. McConnell's senate caucus won't cross Trump, so as soon as Trump signals his "approval", McConnell will have no choice but to acquiecse. Game over.

[ck4829]

25. Indeed

[underpants]

18. That's flat out socialism.

If the money goes directly to the people, they spend it.

The money in the SBA package includes payments for utilities and leases. Okay those entities need money too but it’s MORE control by and dependence on the Feds on the economy.

[paleotn]

21. Let them run on that in the Fall...

Go right ahead, Mitch. Run on that. Explain that to unemployed Kentuckians. McGrath is popular and well funded, while McTurtle is committing political suicide.

[ck4829]

24. Kick

[jorgevlorgan]

26. gotta love the GOP

Grand old psychopaths

[modrepub]

27. Because the US Oil Industry Is Heavily Leveraged

Shale oil is billions in debt to stock holders, banks and bond holders. Cut the oil price by 50% and it halves your income but you still owe the same amount (in loan payments, stock dividends and bond payments). These companies no longer have the cash flow to make payments. Not making payments cascades through the financial system, mainly for banks that lent these companies billions and stock and bond holders (institutional investors/401k/pension funds) who expect payments.

The energy markets are constantly in this boom/bust cycle. Prices skyrocket, assets inflate, market capital gets attracted, oversupply takes place due to skewed investment, prices collapse, bankruptcies ensue, supplies fall, demand outstrips supply, prices skyrocket,..... Imagine if we'd direct capital towards more sustainable energy model instead of this constant boom/bust cycle product...